GLP said it has reached a €1.2 billion ($1.3 billion) first close for its third vintage of the firm’s flagship pan-European logistics income fund series, GLP Europe Income Partners III (GLP EIP III).
The investor base included major institutional investment partners, the majority of whom were existing GLP investors. GLP also welcomed its first Japanese investors into its Europe fund series.
The EIP series was launched by GLP in 2017. GLP EIP III is targeting more than €1.5 billion ($1.65 billion) of total equity commitments and more than €3 billion ($3.3 billion) of assets under management once fully deployed. The fund seeks to invest in high-quality, well-designed properties in key logistics and distribution locations across Europe.
“Our Europe business continues to demonstrate continued momentum and strong demand, and GLP EIP III seeks to enable GLP and its capital partners to capture the market opportunity,” said Ralf Wessel, managing director of
